1323 N Broadway
Chinatown Single Unit Free Stndng Bldg
- Status
- For Sale
- Price
- $990,000
- Bldg Sq Ft
- 1,200 SF
- Bldg Price/SF
- $825.00
- Lot Sq Ft
- 5,441 SF
- Lot Price/SF
- $182
- Sale Type
- Standard
- # of Units
- 1
- CAM
- n/a
- CAP
- ~3.2%
Located on North Broadway, this property sits at the precipice of DTLA getting lots of drive-by traffic, making it ideal for an owner-user entrepreneur that would like to have a ground floor presence, to stop paying rent, and start building equity! It is right below Dodger Stadium.
This building could be ideal for any professional office use, possibly medical or dental use, along with potentially a bar space. Current owner originally purchased the property to make it marijuana retail but have since lost interest. So marijuana retail is also a possible use, do your own due diligence to confirm possible uses with the existing zoning and properties of the location. The property sits on a large hilled lot, and could possibly used for redevelopment purposes as well, potentially for apartments or et cetera.
The property has been recently renovated with a thorough clean up, interior paint, interior lights, and working plumbing. Space features two doors, cement flooring, exposed ceilings, and a single private bathroom. Street parking only.
Commercial real estate has been in a bear market since 2020 and inflation has increased by around 40% since then. For sale commercial property, price per square foot wise, is near, if not at, historic lows- in both real and in nominal terms. You never buy at all time highs, but you do buy at historic lows! Come buy this unique building in this creative ecosystem, because the area has huge potential for creatives and general commercial uses. This is an excellent long hold acquisition to increase the diversity of your investment portfolio and as a hedge against inflation. Motivated seller. TEXT 213-304-4727
LIABILITY WAIVER & DISCLAIMER: Expense & CAP rate numbers provided are for hypothetical purposes based Broker’s estimations with the information available at the time and are not guaranteed nor necessarily complete. Buyer is to do buyer’s own due diligence for income and expenses during escrow to determine the accuracy of the estimations. By using this information buyer agrees to indemnify and hold Broker/Seller harmless for its accuracy and any decisions made based on it, and by moving forward with the purchase the buyer hereby agrees that the final sales price is not tied to this information. Additionally, all information provided about the property provided is deemed reliable but is also not guaranteed by nor necessarily complete. Buyer is to do buyer’s own due diligence in escrow related to all information related to the property to verify information provided. Buyer also acknowledges that brokers/agents are not qualified to act, consult, make conclusions, and/or provide advice with respect to legal, tax, environmental, licensing, permitting, architectural, building code and construction, soils-drainage, and/or any other such matters, so for these things you should refer to the appropriate expert of your choice for confirmation prior to purchasing: moreover Broker does not warrant the property is up to current required building code standards nor that all work on the property has been done with necessary permits, licensing, and et cetera including but not limited to existing subdivisions, layouts, buildouts, and all matters hereto mentioned. Sale of the property will be in as-is condition on a ‘with all faults’ basis, so it is the responsibility of the buyer to do all necessary due diligence with the appropriate experts prior to the purchase; and buyer hereby agrees to indemnify and hold broker harmless for all related matters in the purchase of this property.